Exclusive: Dallas Fed Quietly Suspends Energy Mark-To-Market, Tells Banks Not To Force Shale Bankruptcies
by Tyler Durden
ZeroHedge.com
01/16/2016
The Dallas Fed met with the banks a week ago and effectively suspended mark-to-market on energy debts and as a result no impairments are being written down. Furthermore, as we reported earlier this week when first nothing the rumor, the Fed indicated “under the table” that banks were to work with the energy companies on delivering without a markdown on worry that a backstop, or bail-in, was needed after reviewing loan losses would exceed the current tier 1 capital tranches.
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